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Iron-Ore Miners to Drive Exports as Prices Fall, BHP Says
Sun, 30 Nov 2014 15:05:00 +0800
BHP Billiton Ltd. (BHP), the world’s biggest mining company, signaled there will be no slowdown in the drive by global iron-ore producers to boost production even as prices slump. “Even the iron-ore price where it is today can induce more volume,” Jimmy Wilson, BHP’s president of iron ore, ...
Rio Tinto unfazed by falling iron ore prices
Mon, 10 Nov 2014 05:08:55 +0800
Global miner Rio Tinto, which gets 92% of its revenue from iron ore, is unfazed by the drop in ore prices and sticking to plans to raise output. Mr Sam Walsh CEO of Rio Tinto said that the Anglo Australian miner, which rebuffed an approach from commodities trader Glencore Plc in August, is also c...
Vale admits that everyone is nervous about the iron ore price crash
Fri, 26 Sep 2014 10:01:15 +0800
Brazilian mining giant Vale has admitted it is nervous about the plunge in iron ore prices below USD 80 per tonne as the Chinese government dampens hopes of aggressive policy stimulus to fuel growth. Mr Stephen Potter Vale's director of strategic planning said that “It is always a challenge for l...
BHP expects China to cut more higher-cost domestic iron ore output
Thu, 17 Jul 2014 16:17:22 +0800
BHP Billiton Ltd. (BHP), the world's largest mining company, expects China to cut more higher-cost domestic iron ore output as the biggest global producers flood the market with low-cost supply. "As Australia expands its ability to export more and more high-quality iron ore, the Chinese are pr...
MMX: It is hard to find partner for low iron ore price
Fri, 27 Jun 2014 16:12:43 +0800
Brazilian miner MMX, controlled by local tycoon Eike Batista, said  that the search for a partner to help fund its expansion had become harder as the price of iron ore fell. MMX Mineração e Metálicos, as the company is formally known, is in the process of restructuring and looking for a p...
Rio Tinto CEO: China's steel demand will keep growing
Thu, 29 May 2014 15:11:48 +0800
Miner wants to build relations as iron ore market gets competitive. The world's second-largest miner, Rio Tinto Group, faces an ever more competitive iron ore market. It wants stronger relations with China, the world's biggest steelmaker. "As China continues its urbanization and...
Vale: Iron ore price will be at US$110/tonne over the next two years
Fri, 04 Apr 2014 15:22:11 +0800
Vale SA, the world’s biggest iron ore producer, expects to get about US$110/tonne for the steelmaking commodity over the next two years, below analysts expectations for market prices. Vale, which ships about half its ore and pellets to China, sees prices being supported as urbanization rates in t...
SAIL: Worst is over for steel sector in country
Wed, 19 Feb 2014 09:04:44 +0800
Mr CS Verma chairman of SAIL said that reeling under subdued demand for over 2 years, the steel sector’s worst phase is over and green shoots are visible in areas like prices and inventories. He said that “The worst phase of steel sector is already over. Things are looking up. Demand has gone up....
VALE CEO: The recent drop in iron ore prices is temporary
Wed, 22 Jan 2014 16:17:59 +0800
The fundamentals of the Chinese economy remain solid and the recent drop in iron ore prices is temporary, Murilo Ferreira, CEO of Vale, the world's largest iron ore miner, said on Tuesday. Iron ore prices on the Chinese spot market have fallen 8.2% since the beginning of the year to US$123.20/...
CISA:Chinese steel industry will stay in hard time next year
Tue, 10 Dec 2013 09:29:53 +0800
It is known that the Ministry of Industry and Information Technology was deploying a series of measures to strictly control the newly-added capacity and eliminate outdated capacity. According to Mr Zhang Changfu vice chairman of China Iron and Steel Association, China steel industry achieved an i...
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